• norsk
    • English
  • norsk 
    • norsk
    • English
  • Logg inn
Vis innførsel 
  •   Hjem
  • Norges Handelshøyskole
  • Thesis
  • Master Thesis
  • Vis innførsel
  •   Hjem
  • Norges Handelshøyskole
  • Thesis
  • Master Thesis
  • Vis innførsel
JavaScript is disabled for your browser. Some features of this site may not work without it.

The relationship between ship specifications and time charter rates : quality premiums through a generalized additive model

Riise, Simon; Rødde, Marius Bjørngaard
Master thesis
Thumbnail
Åpne
Masterthesis.pdf (3.306Mb)
Permanent lenke
http://hdl.handle.net/11250/220842
Utgivelsesdato
2014
Metadata
Vis full innførsel
Samlinger
  • Master Thesis [4657]
Sammendrag
Nonlinear semi-parametric modeling of freight rates in the dry bulk market has gained

increased recognition, although it has not been implemented extensively in previous

studies. By allowing the data itself to dictate the functional form of our model we

seek to decompose the physical time charter rate according to a combination of macro

- and microeconomic variables. Our main goal is to identify quality related aspects of

rate determinants and the possible existence of a quality premium. A spline

interpolation technique is applied to exclude time–related modifications to the market

index along with actual contract fixtures from 2001 to 2014 across the three main dry

bulk segments. Supporting previous literature, we identify a clear non-linearity

between variables and support for quality segmentation with respect to age and size.

Furthermore Japan has increased its position as a provider of quality tonnage and

there has been a shift in fuel efficiency, measured as consumption per ton-miles, over

time. Contractual specification on cost allocations between shipowner and charterer

suggest that the charterer obtains any possible quality related profits, showing

evidence of split incentive barriers. In general we find that there has been a shift in

market dynamics in time periods before and after 2008.

Kontakt oss | Gi tilbakemelding

Personvernerklæring
DSpace software copyright © 2002-2019  DuraSpace

Levert av  Unit
 

 

Bla i

Hele arkivetDelarkiv og samlingerUtgivelsesdatoForfattereTitlerEmneordDokumenttyperTidsskrifterDenne samlingenUtgivelsesdatoForfattereTitlerEmneordDokumenttyperTidsskrifter

Min side

Logg inn

Statistikk

Besøksstatistikk

Kontakt oss | Gi tilbakemelding

Personvernerklæring
DSpace software copyright © 2002-2019  DuraSpace

Levert av  Unit